Linden buys RQM+ at $385m TEV, One Equity makes 5x its money on OneLink

Linden wins RQM+ auction and OEP makes 5x on OneLink.

Morning, folks!

We’ve seen a whole lotta private equity activity and consolidation when it comes to outsourced services in the pharma space, including regulatory and compliance consultancies. As the medtech industry plays catchup, the interest around one such company speaks to the perceived opportunity to build a platform of this vein.

Linden Capital Partners has agreed to acquire RQM+, winning a robust sale process for a full-service regulatory and quality consulting firm dedicated to the medical device and diagnostics industries, according to four people familiar with the matter.

The deal, which has not yet closed, commanded a total enterprise value of $385 million, some of the people said.

PE Hub sources said other contenders in the Harris Williams-run sale process included ProPharma Group, a compliance-related pharma services company that Odyssey Investment Partners bought from Linden last year at a $500 million-plus valuation; as well as Summit Partners’ newly launched platform, Veranex, a one-stop concept-through-commercialization service provider dedicated to medical technology.

A couple major factors played into the robust interest commanded by RQM+, market sources told PE Hub: To start, medtech is considered significantly behind the pharmaceutical industry in terms of its reliance on outsourced service providers before new products are launched. At the same time, almost any player involved in medtech consulting is experiencing greater demand as the end market prepares for a new regulatory framework in Europe that will be soon adopted to ensure better patient safety and efficacy of medical devices.

For more on the deal, check out my full report on PE Hub.

Makin’ money: One Equity Partners is set to make approximately 5 times its investment with the sale of OneLink Holdings, a provider of business process outsourcing and customer relationship solutions, a source familiar with the deal told PE Hub.

After a four-year hold, the New York firm on Tuesday announced the sale of OneLink to Webhelp, a global provider of customer experience and business solutions. The transaction is expected to close before Q4 2021, according to the announcement.

Under OEP’s ownership, OneLink expanded its nearshore delivery footprint in Latin America and significantly grew its US and Latin American customer base.

Read Milana’s full report on PE Hub.

That’s it for me! Hit me up with tips, feedback or comments at springle@buyoutsinsider.com. Have a great week ahead!

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